#Loan Against Property in Jaipur

[cashagainstproperty]

 Loan Against Property in Jaipur Loan Against Flat in Jaipur Capified

Loan Against Property in Jaipur

Capified provides loans against Property in Jaipur services for different types of residential and commercial properties. We can assist our clients in obtaining housing loans, commercial property loans, and loans against property or Mortgage loans at the most favorable terms and conditions to our clients. 

Loan Against Flat in Jaipur

Capified are the ones who provide loans against flats in Jaipur. You have a wage and you are qualified then this is the less expensive loan choice for you for having a loan against property in Jaipur. The property has to be occupied for a particular period of time, which differs depending on the state. 

finance against property in jaipur

Capified helps you to get finance against property private finance, so you can realize your personal or business goals Jaipur. We offer the best services for cash against your property that can be a built-up residential or commercial property, an approved vacant land or a rental discounting of residential\commercial property. 

Top Finance Against Property in jaipur

Get the finance against property in Jaipur as a security from Capified that has experienced bankers. This will work with you to find the best solution for your individual situation. We offer the best loan against property in various places, best loan against property with loan against property with less number of documents. 

private financer in jaipur against property

Get the private financer against property in Jaipur from Capified that is a well-informed team, we are occupied in rendering Private Financer against property in Jaipur. These services are vastly well-liked among our patrons for their timely completion. Our offered service is accomplished employing the advanced techniques. 

Loan Against Property Lowest Interest Rate

Get the loan against property from Capified at the lowest interest rate that offers a secured loan in Jaipur. This asset can either be an owned land, a house, or any other commercial premises. The asset remains as collateral with the lender until the entire loan against property amount is repaid. 

READ MORE.....Cash Against Property Loan Against Property in Delhi Gurgaon Noida - Capified

[scamsupdateindia]

ED Arrests Himansh Verma in Rs 1,257 Crore Syndicate Bank Fraud Case

The Enforcement Directorate (ED) has apprehended a significant conspirator involved in the Rs 1,257 crore Syndicate Bank loan fraud. On October 15, Himanshu Verma, also known as Himansh Verma, a resident of Chandigarh, was arrested and subsequently presented before a special court in Jaipur. The judge has remanded Verma to ED custody for 10 days, until October 25.

ED Initiates Money Laundering Investigation

The ED initiated a money laundering investigation under the Prevention of Money Laundering Act, 2002, against officials of the former Syndicate Bank (now Canara Bank) and other suspects. This investigation was based on First Information Reports (FIRs) and a charge sheet filed by the Central Bureau of Investigation (CBI).

Details of the Syndicate Bank Fraud

According to the ED's Jaipur-based Zonal Office, from 2011 to 2016, the main fraudster Bharat Bomb, a Chartered Accountant from Udaipur, Rajasthan, colluded with bank officials to defraud the Syndicate Bank of Rs 1,257 crore through fraudulent loans and fake cheque discounting.

Himansh Verma's Role in the Fraud

The ED's investigation revealed that Himanshu Verma was a key associate of Bharat Bomb, receiving approximately Rs 85 crore in proceeds from the crime. Properties worth Rs 14.88 crore belonging to Verma and his family have been attached by the ED.

"Himanshu Verma received proceeds of crime in various bank accounts he operated and controlled, using complex transactions to place, layer, and integrate the tainted funds," stated the ED.

Verma's Criminal Background and Evasion Tactics

The agency also highlighted that Verma is a hardcore criminal with multiple FIRs registered against him and his family members in various police stations across Punjab and Chandigarh. He is wanted by both the Punjab Police and the CBI.

In an attempt to evade authorities, Verma changed his name to Himansh Verma, obtained a fraudulent police verification report, and secured a new passport under his new name. He traveled abroad via Nepal before the passport authorities canceled his passport upon discovering his criminal background.

Lack of Cooperation with ED Investigation

Despite multiple summonses from the ED, Verma remained uncooperative throughout the investigation, appearing only once.

[aryacollegeofengineering]

How to start learning artificial intelligence?

Artificial Intelligence learning Process

 Introduction:- Best Collages of Engineering in Rajasthan have courses like AI, computer science, etc.

 Intelligence: The capacity to learn and solve problems.

Artificial Intelligence:

Artificial Intelligence is work done by machines in the simulation of human intelligence

The ability to solve problems.

 The ability to act rationally.

The, ability to act like humans.

 Reasoning, knowledge, planning, learning, and communication.

 Ability to move to make manipulate objects.

Science and Technology that make intelligent machines, especially intelligent computer programs

Definition

BTech colleges of Engineering of Jaipur have very good teachers who teach AI which means Artificial Intelligence is the Combination of Science and Technology which included the behavior of machines and the branch of computer science that aims to create it. Computer science and technology that is concerned with the automation of intelligent behavior (Luger and Stubblefield. 1993)

Application of AI in machine

Image-guided in Hospitals in every department like cardiology (CRG), neurology (MRI), embryology (sonography), complex operations of internal organs, etc. This application can Image-guided surgery and image analysis and enhancement

Application of AI in Music

After using Science and technology combination, computers are made the skilful musician. Music has many things Composition, performance, music theory, and sound processing are some of the major areas on which research in music and AI are focusing Eg: chucks, smart music, etc.

Application of AI in Telecommunications

Many companies are using heuristic search in the management of their workforces, AI made inside work and communication simple

AI and Robotics

Robert is the big invention of AI, it is an artificial agent, Its is a program guided by a computer command and electronic circuit. The robot has sentheir of intelligence or thoughts of its own

Application of AI in Gaming

The gaming industry is booming nowadays as new developers make new games that are to be used by AI that gives realistic gaming experiences to compete against one another on a virtual Platform

Application of AI in Banking

Organize operations, invest in stocks, and manage properties.  Some Finance related AI apps to be used in the banking sector include loan investigation, ATM design, safe and fast banking, etc.

Some Other Applications

Credit granting

Information management and retrieval

AI and expert systems embedded in products

Plant layout

Help desk and assistance

Employee performance evaluation

Shipping

Marketing

Warehouse optimization

In-space workstation maintenance

Satellite controls

Network developments

Nuclear management

 Advantages :

More powerful and more useful computers.

New and improved interfaces.

Solving new problems.

Better handling of information.

Relieves information overload.

Conversion of information into knowledge.

 Disadvantages :

 Increased costs

 Slow and expensive

Few experienced programmers

 How To Get Started With AI

Choose a topic you are interested

Find a quick solution

Improve your simple solution

Share your solution

Repeat steps 1-4 for different problems

Complete a Kaggle competition

Use machine learning professionally

Future And Growth With AI

Private Colleges of Engineering of Rajasthan are looking at the features and its wide application we may stick to artificial intelligence. As AI development in the future world is becoming artificial, Biological intelligence is fixed, because it is an old, mature paradigm but the new paradigm of non-biological computation and intelligence is growing exponentially. They are probably used in remembering visual impressions, and other comparatively wasteful ways. We can also say that with AI, we can work smoothly. AI has become a need of our life that is used in many fields.

Conclusion

After providing all facilities in colleges by Top Engineering Collage in Jaipur students have learned principles, applications, and achievements, etc. The Purpose of working on Al is to solve the majority of the problems or to achieve the tasks which we humans directly can't accomplish. The development of computer science will change the complete scenario of the world. After using AI in day-to-day activity people are growing and making their businesses profitable with their Tech support and the science behind it. You can also learn AI from home even if u don’t have any experience and you can start applying your knowledge in practice, creating simple machine-learning solutions, and making the first steps toward your new profession.

Source: Click Here

[educationtech]

Types of Artificial Intelligence Learning Models - ACEIT

Introduction:- Best Collages of Engineering in Rajasthan have courses like AI, computer science, etc.

Intelligence: The capacity to learn and solve problems.

Artificial Intelligence:

Artificial Intelligence is work done by machines in the simulation of human intelligence

1) The ability to solve problems.

2) The ability to act rationally.

3) The, ability to act like humans. 1) Reasoning, knowledge, planning, learning, and communication. 2) Ability to move to make manipulate objects. 3) Science and Technology that make intelligent machines, especially intelligent computer programs

Definition

BTech colleges of Engineering of Jaipur have very good teachers who teach AI which means Artificial Intelligence is the Combination of Science and Technology which included the behavior of machines and the branch of computer science that aims to create it. Computer science and technology that is concerned with the automation of intelligent behavior (Luger and Stubblefield. 1993)

Application of AI in machine

Image-guided in Hospitals in every department like cardiology (CRG), neurology (MRI), embryology (sonography), complex operations of internal organs, etc. This application can Image-guided surgery and image analysis and enhancement

Application of AI in Music

After using Science and technology combination, computers are made the skilful musician. Music has many things Composition, performance, music theory, and sound processing are some of the major areas on which research in music and AI are focusing Eg: chucks, smart music, etc.

Application of AI in Telecommunications

Many companies are using heuristic search in the management of their workforces, AI made inside work and communication simple

AI and Robotics

Robert is the big invention of AI, it is an artificial agent, Its is a program guided by a computer command and electronic circuit. The robot has sentheir of intelligence or thoughts of its own

Application of AI in Gaming

The gaming industry is booming nowadays as new developers make new games that are to be used by AI that gives realistic gaming experiences to compete against one another on a virtual Platform

Application of AI in Banking

Organize operations, invest in stocks, and manage properties.  Some Finance related AI apps to be used in the banking sector include loan investigation, ATM design, safe and fast banking, etc.

Some Other Applications

Credit granting

Information management and retrieval

AI and expert systems embedded in products

Plant layout

Help desk and assistance

Employee performance evaluation

Shipping

Marketing

Warehouse optimization

In-space workstation maintenance

Satellite controls

Network developments

Nuclear management

Advantages :

More powerful and more useful computers.

New and improved interfaces.

Solving new problems.

Better handling of information.

Relieves information overload.

Conversion of information into knowledge.

Disadvantages :

Increased costs

Slow and expensive

Few experienced programmers

How To Get Started With AI

Choose a topic you are interested

Find a quick solution

Improve your simple solution

Share your solution

Repeat steps 1-4 for different problems

Complete a Kaggle competition

Use machine learning professionally

Future And Growth With AI

Private Colleges of Engineering of Rajasthan are looking at the features and its wide application we may stick to artificial intelligence. As AI development in the future world is becoming artificial, Biological intelligence is fixed, because it is an old, mature paradigm but the new paradigm of non-biological computation and intelligence is growing exponentially. They are probably used in remembering visual impressions, and other comparatively wasteful ways. We can also say that with AI, we can work smoothly. AI has become a need of our life that is used in many fields.

Conclusion

After providing all facilities in colleges by Top Collages of Engineering of Jaipur students have learned principles, applications, and achievements, etc. The Purpose of working on Al is to solve the majority of the problems or to achieve the tasks which we humans directly can't accomplish. The development of computer science will change the complete scenario of the world. After using AI in day-to-day activity people are growing and making their businesses profitable with their Tech support and the science behind it. You can also learn AI from home even if u don’t have any experience and you can start applying your knowledge in practice, creating simple machine-learning solutions, and making the first steps toward your new profession.

[parkshala]

The National Human Rights Commission (NHRC) has taken suo motu cognizance of a media report that in half a dozen districts of Rajasthan, girls are sold as repayment for loans. These girls are being sent to UP, MP, Mumbai, Delhi & even foreign countries & subjected to physical abuse, torture & sexual assault in slavery.

In some cases, their mothers are subjected to rape on the diktats of caste panchayats for the settlement of disputes.

The report said people in places such as Bhilwara approach the caste councils to settle their disputes instead of going to the police. It added often girls are sold or their mothers are ordered to be raped.

The report said a caste council forced a man to sell his sister first and then his 12-year-old daughter to settle a ₹15 lakh debt.

Another girl was sold for ₹6 lakh and taken to Agra. She was sold again thrice and became pregnant four times. Her father was forced to sell her and their house to repay ₹6 lakh taken for the treatment of his wife, who later died.

A notice has also been issued to the Director General of Police in Rajasthan to provide detail of police action against perpetrators and abettors of such crime.

SOURCE: @thetatvaindia

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#parkshala #mindgrindmondays #ngo #ngoforchildren #ngoforunderprivileged #delhi #TheTatva #TatvaNews #India #Rajasthan #Women #Girls #Auction #Sold #Human #HumanRights #NHRC #Jaipur #Bhilwara #Debt #Feminism #Rape #Property #newsoftheday

[himanshverma]

ED arrests HImansh Verma key man in Rs 1,257 crore Syndicate Bank loan fraudulent case

 New Delhi: The Enforcement Directorate (ED) has arrested a key conspirator in Rs 1,257 crore Syndicate Bank loan fraudulent case, the agency said on Monday.

The federal agency arrested Himanshu Verma alias Himansh Verma, a resident of Chandigarh, on October 15. Verma was produced before a special court in Jaipur, and the Judge remanded him to the ED custody for 10 days till October 25.

The agency initiated a money laundering investigation in the case against the officials of erstwhile Syndicate Bank (now Canara Bank) and others under the Prevention of Money Laundering Act, 2002 based on the First Information Reports (FIRs) registered and charge sheet filed by the Central Bureau of Investigation (CBI).

ED's Jaipur-based Zonal Office initiated the investigation under which it is revealed that from 2011 to 2016, main fraudster Bharat Bomb, Udaipur (Rajasthan) based Chartered Accountant, in collusion with the bank officials defrauded erstwhile Syndicate Bank to the tune of Rs 1,257 crore by way of fraudulent loans and fake cheque discounting.

During an investigation conducted by the ED, the agency said it was revealed that Himanshu Verma was a key associate of the Bharat Bomb and he received approximately Rs 85 crore proceeds of crime generated out of the fraud.

The ED has attached properties worth Rs 14.88 crore of Himanshu Verma and his family members.

"Himanshu Verma received proceeds of crime in various bank accounts operated and controlled by him through the complex maze of transactions for placement, layering and integration of the tainted funds," said the ED.

The agency said that Verma is a hardcore criminal and multiple criminal FIRs are registered against him and his family members in various Police stations in Punjab and Chandigarh. Verma is wanted by Punjab Police and the CBI too.

ED said that Verma changed his name to Himansh Verma and fraudulently sought a police verification report got issued a new passport in name of Himansh Verma and travelled abroad via Nepal.

"The passport authorities canceled the new passport after knowing about his criminal history," the ED said.

ED had earlier issued multiple summonses to Verma to join the investigation but he always remained non-cooperative in the investigation and never appeared except once.

(ANI)

[munafaprofile]

How to Apply for a Personal Loan?

When you are in need of cash while doing any job, you can take assistance from a personal loan. This is a loan method that will help you to get the maximum amount in a short time, and it will be very helpful for you. Now, if you are searching for a personal loan, you can also take help from these steps mentioned below, and it will be very helpful for you to get money for yourself.

Find out the best institutions.

When you take help from personal loans, you need to make sure that you have chosen a perfect institution for the personal loan. For example, when you are searching for a loan in Jaipur, then also you can take help from the Best Loan Company in Jaipur, which can give you the best assistance. Once you are able to select the best institution from where you will be able to get the loan, it will be best for you to get the loan within the desired time.

Make sure that you are eligible.

When you are taking help from a personal loan, you need to make sure that you are eligible for the loan. You need to take care of the eligibility and get the Best Personal loan in Jaipur. It will be a very helpful factor for you to be able to get loans.

Know the details of the loan

When you take help from the loans, you first need to make sure that you are aware of the details of the loan. When you are aware of the details of the loans, it will be easy for you to get loans, and it will be very helpful for you in any situation. You have to know about the details of the loan first, and it will be very helpful for you to get the loan. You need to know about the percentages, repayment details, and others so that you can get the best Loan against Property Agency that will suit your budget.

Submit your application

You need to submit your application along with your details of yours, and it will help you to get the maximum benefits from the end of the application. You can also get help from a personal loan, and it will be very effective for you in any situation. So, you need to submit your applications so that you will be able to get the loans without any hassle. By submitting your application, you will also be able to get the loans faster, and it will generate one of the best results for you so that you will not face extra hassle.

Conclusion

These are the most effective factors so that you will be able to get one of the best features from the loan. You should be able to repay the loan faster, and it will be very helpful for you in any situation. You can be able to get your personal loans, and it will be very helpful for you to get one of the best loan options. You can also get assistance from a Mortgage Loan Agents in Jaipur, and it will be very helpful for you.

[jainfinance-blog]

Improving Credit Score, Is It Possible ? It generally takes a few months to improve your credit score and apply for loan again. Following tips can help you achieve a better score next time and finally get your loan application approved.  Credit rating agencies pay a lot of weightage to how timely you fulfil your obligations. Pay all your bills on time to get a better score next time. Even that one time you skipped on a timely bill payment ca severely impact your credit score. Do not skip, miss or partial pay your bills. Fulfil your financial obligations like bill payments, loan repayment on time to be seen as credit worthy.  Credit utilization ratio is a measure of your total credit limit and the credit you availed per month. Keep your credit utilization less than 50% of your total credit limit. Lower credit utilization ratio makes you more trustworthy in the eyes of credit rating agency. To understand this picture a simple scenario. If your monthly credit limit is Rs 2 lakhs, do not avail for more than Rs 1 lakh, that is 50 per cent of your total credit limit.  Don’t apply for too many new credit accounts if you don’t need them all. This is because each time you apply for a new credit account, the lending firm will check your credit score. These multiple credit score enquiries by lending firms give you a reputation of being ‘credit hungry'. This can cause a downfall in your credit score.  If you are guilty of paying only the minimum amount every time your credit bill is due, please stop it. Pay in full to get a better credit rating next time.

http://www.jainfinance.net/

[exusysdm-blog]

Jaipur, one of the most peaceful and relaxed city of the country, located in close proximity to the capital city of India, is an alternative city for the people tired of living in capital city and looking for a relaxed city away from the hustle and bustle of New Delhi and NCR. As the city is located in the golden quadrilateral, and the most important Mumbai corridor is passing through the city, the City of Jaipur has everything, which makes the city as the most livable. The start of the Metro has indeed given a new dimension to the city and the construction stage of Ring Road, has added a new feather in already loved city of India. The city is widely popular as a tourist destination and one of the one of the most peaceful in India.

Real Estate Scenario of Jaipur

The city of Jaipur is expanding and with the expansion being noticed in all four directions; the Ajmer Road, the Agra Road, Chaksu Road and Delhi Road, the city offers a huge chance for the people to get their own homes at the best prices. The announcement of an international airport at Chaksu has given a new dimension to the chaksu road and since the announcement, a huge change in the pricing factor has been noticed in the those areas connected.

The new schemes and high development in Ajmer Road has put this area to the limelight of Real Estate and the presence of Mahindra SEZ and several other such important hotspots, the Ajmer Road is now a favorite destination for the investment scenario. Several important projects through several builders in the city all over the city, has offered a genuine chance to the people to have a home of their own at best rates.

For those, who are in need of the Home Loans Jaipur, we are here for their help. The Home Loans Jaipur is a way to the revitalizing of new energy in the people to motivate them for the property buying. As the prices of the real estate is increasing, which has touched a 3000 mark with quite ease in the localities which are located at outskirts of the city, the days are not far where the buying of home will only be an ultimate dream.

Get all details and collect all information on interest rates and EMIs plans and make your decision to buy a home of your own quickly. Get information on eligibility criteria and collect all information on documents needed for the home loans and make your deal now.

Collect all information on the interest rates offered by all banks in Jaipur for Home Loans and make a detailed comparative chart on various offers and deals at offer to you with us. Consult with us for your Home Loans and our experts will guide you in the best possible manner for the quick Home Loans.

[amritaagarwal]

Rules to Follow While Taking a Loan Against Property in Jaipur

Jaipur is one of the best cities for small businesses. This city is rich in tourism industry because of the number of historical monuments present here. As a quite good number of people from the country and outside the country visits this place every year, many small businesses can be started taking the fact into consideration.

To start a business, there are two things which are essential. The first is a unique idea and the second is enough money in hand. Unfortunately, availing a business loan at this stage is near to impossible. The next way left to avail a big amount to start a business is the Loan Against Property.

If you are a resident of Jaipur and own any kind of property, the option of availing this loan is open to you. A loan against property is always a cheaper way of getting finance then a personal loan or a business loan. But you are to keep in mind that your property documents will be at the custody of the lender which he can sell if you become unable to pay off the loan. So in this kind of loan, the risk to your property should never be overlooked.

 5 Rules to Follow While Taking a Loan Against Property in Jaipur

Borrow According To Your Repayment Capacity

The repayment capacity matters a lot while availing a loan against property in Jaipur. Being unable to pay off the loan can make you lose your property which can be a great hit to your net worth. So one should try to take the loan amount as less as possible.

Keep the Loan Tenure Small

A short tenure of the loan is always more beneficial for the borrower. A short tenure will make your property get back to you sooner. Not only have that, one can save the interest component while opting for a short tenure.

Be Regular In EMIs

Being regular in EMIs is a must for any loan and when it comes to loan against property, one should be more cautious. Neglecting EMI payments will attract penalties as well your credit score is certain to be crushed. In the worst cases, not paying loan EMI for many consecutive months will make the lender sell your property.

Avail Insurance When You Borrow a Larger Amount

If your loan amount is a bigger one and you have opted for a longer tenure, you must buy an insurance on your loan against property. An insurance on loan can become a saviour in the case of death and disability of paying the loan EMIs. A loan insurance can save your property from being sold in such situations.

Read the Terms and Conditions Carefully

The terms and conditions of lenders may vary. One must read all the terms and conditions meticulously before signing the loan document. Being unaware of the terms and conditions of a loan can land you in hot water at any given times.

[cashagainstproperty]

  Loan Against Property in Jaipur Loan Against Flat in Jaipur Capified

Loan Against Property in Jaipur

Capified provides loans against Property in Jaipur services for different types of residential and commercial properties. We can assist our clients in obtaining housing loans, commercial property loans, and loans against property or Mortgage loans at the most favorable terms and conditions to our clients. 

Loan Against Flat in Jaipur

Capified are the ones who provide loans against flats in Jaipur. You have a wage and you are qualified then this is the less expensive loan choice for you for having a loan against property in Jaipur. The property has to be occupied for a particular period of time, which differs depending on the state. 

finance against property in jaipur

Capified helps you to get finance against property private finance, so you can realize your personal or business goals Jaipur. We offer the best services for cash against your property that can be a built-up residential or commercial property, an approved vacant land or a rental discounting of residential\commercial property. 

Top Finance Against Property in jaipur

Get the finance against property in Jaipur as a security from Capified that has experienced bankers. This will work with you to find the best solution for your individual situation. We offer the best loan against property in various places, best loan against property with loan against property with less number of documents. 

private financer in jaipur against property

Get the private financer against property in Jaipur from Capified that is a well-informed team, we are occupied in rendering Private Financer against property in Jaipur. These services are vastly well-liked among our patrons for their timely completion. Our offered service is accomplished employing the advanced techniques. 

Loan Against Property Lowest Interest Rate

Get the loan against property from Capified at the lowest interest rate that offers a secured loan in Jaipur. This asset can either be an owned land, a house, or any other commercial premises. The asset remains as collateral with the lender until the entire loan against property amount is repaid. 

READ MORE...Cash Against Property Loan Against Property in Delhi Gurgaon Noida- Capified

[india-times]

Godrej group marks entry into lending business with Godrej Capital

MUMBAI : The 125-year-old Godrej group has entered into the lending business launching its unit Godrej Capital Limited, which will be a subsidiary of Godrej Industries Limited.  

Godrej Capital will be the holding entity for Godrej Housing Finance and Godrej Finance Limited, its non-banking financial company (NBFC), Godrej group said in a statement. 

Godrej Finance held a NBFC licence since 1998, when it was known as Ensemble Holdings and Finance; however, it has never been active in the lending space. 

Godrej Industries has now committed to invest Rs 1,500 crore in capital in Godrej Capital. With its retail financial services business, the $4.1 billion conglomerate group has a near-term aim to build Rs 30,000 crore balance sheet by 2026, the statement further said. 

Godrej Capital currently has its footprint across Mumbai, Bengaluru, Delhi NCR, Ahmedabad, and Pune and will soon be operational in six new cities, i.e., Jaipur, Chandigarh, Hyderabad, Chennai, Indore and Surat. 

“Godrej Capital will form a key pillar in the overall growth of the Godrej Group. We started with home loans in select geographies in 2020. Having seen strong customer acceptance of our offering, we are very optimistic about the prospects of our financial services venture and will be entering new markets and enhancing our reach across key target sectors and consumer segments,” said Pirojsha Godrej, Chairman, Godrej Capital. 

The company will continue to focus on growing its secured loan book consisting of home loans and loans against property (LAP) and  is positioned to diversify into other customer segments and products. Additionally, the business aims to grow its team by 50% to approximately 500 people in this financial year to aid geographical expansion. 

“We have successfully implemented a digital-first approach at Godrej Housing Finance through innovative products such as Design Your EMI and end-to-end contactless solutions delivered digitally. This has inspired us to grow our footprint and to broaden our service offerings to different customer segments through affordable housing loans and unsecured loans. We envision Godrej Capital becoming a new- age, leading retail financial services institution in the years ahead,” said Manish Shah, MD & CEO, Godrej Capital.

In October 2020, the group launched Godrej Housing Finance, which offers mortgage loans of Rs 40 lakh to Rs 1 crore, but only for customers of Godrej Properties. Its capital adequacy ratio stood at 21.8% as of March 2021, and had a loan book of Rs 1,001 crore as of December 2021. 

Last year in July, following a Reserve Bank of India (RBI) approval, group holding company Godrej Industries transferred its stakes in its units Godrej Housing Finance and Godrej Finance to Godrej Capital (another subsidiary earlier called Pyxis Holdings), making it the group’s financial holding company.

According to data from the ministry of corporate affairs, Godrej Finance has been engaged in investment and other NBFC activities. Investment activities include dealing in listed and unlisted securities and holding 0.6% of Godrej Properties, it said. 

Godrej Industries had signalled its ambition in the finance business last year itself. “The company is looking at expanding and diversifying its business activities. It believes there is a strong potential for housing finance and non-banking finance business in our country with a decent return on investments. The housing finance business in India has been growing at a steady pace. GHFL has recently obtained a licence to operate as a housing finance company and has commenced operations. Looking at the opportunity in the housing finance sector and NBFC business, it is proposed to nurture the finance business under the company’s umbrella, being the flagship firm of the group,” it wrote to stock exchanges on 24 August.

 The Godrej group was founded in 1897 when brothers Ardeshir and Pirojsha Godrej opened a lock-making company in Mumbai after failing in earlier ventures. It has since emerged as a global conglomerate. 

The group has been going through an ownership shake-up after a family feud cropped up between the two brothers, resulting in the division of the group’s businesses among the next generation of the family. 

The group is led by veteran industrialist Adi Godrej (79) as chairman. His brother Nadir Godrej is chairman of Godrej Industries and Godrej Agrovet. Their cousin Jamshyd N. Godrej is chairman of Godrej & Boyce Manufacturing Co. Ltd, whose assets include largely undeveloped land across Mumbai. 

Adi’s son Pirojsha runs the listed Godrej Properties, which is developing some of the land owned by Godrej & Boyce, along with other projects across Mumbai. Adi’s youngest daughter, Nisaba, is chair and managing director of Godrej Consumer Products Ltd. Adi’s other daughter, Tanya, is executive director and chief brand officer of Godrej Industries.

[munafawala]

Loan Against Mortgage in Jaipur

Loan Against Mortgage in Jaipur scheme is a secured personal loan which you can avail by pledging your property as a security or a collateral. These personal loan schemes are also known as mortgage loans.

[loyallogic]

Does India need a law similar to Singapore COVID-19 (Temporary Measures) Act, 2020?

This article is written by Shivani Nair, from Manipal University Jaipur. This is an exhaustive article which deals with the topic of the need for a law similar to the law passed by Singapore COVID-19 (Temporary Measures) Act, 2020, and why we require such an act to tackle the situation we are currently facing.

Introduction

The government of Singapore had introduced the COVID-19 (Temporary Measures) Act, 2020, on the 7th of April 2020. The main objective of this act was to provide temporary relief to the parties who were unable to perform their contractual obligations by the reason of this pandemic. Certain other objects were:

Contracts: Suspension of contractual obligations

Bankruptcy and Insolvency Proceedings

Regulation of certain corporate meetings

Proceedings of Court being carried out using remote access technology

The Singapore COVID-19 (Temporary Measures) Act, 2020

These temporary measures were generally intended to come into force for only a period of six months, but considering the spread of the pandemic and the necessity to have a good prevention method against it would mean that this measure could increase for a period of 12 months through a notification in the Official Gazette.

Contracts that have been covered under the Act

The aim of the Act is to cover the contracts which had been entered into or had been renewed before the 25th of March, 2020. The Act also aims to cover the obligations that were supposed to be performed on or after the 1st of February, 2020. The following contracts, also known as “The Scheduled Contracts”, are covered under the Act, amongst the others:

The lease for the non-residential properties.

Supply and construction contracts.

Contracts that are required for the provision of goods and services for events and the tourism taking place in the country. 

Certain amounts of loans and facilities which have been provided to the businesses with not more than $100 million turnovers in the latest financial year. These loans have been fully or partially secured against the commercial or industrial immovable plant, property, machinery, or any other equipment used for the purpose of business in Singapore. 

For an interesting reason, this law also aims to bring within this Act, any other country that is in connection with the COVID-19.

The relief provided under the Act

There are several reliefs that the Act provides in the case of scheduled contracts. These are:

Discontinuance of the proceedings of the court against the other party or the surety or the guarantor.

Discontinuance of the Arbitration proceedings against the other party or the surety or the guarantor.

Prohibition of security enforcement on any movable or immovable property that is used for the purpose of business, trade, or profession.

Prohibition on the application of winding up.

Prohibition on making any sort of call on the performance of a bond in relation to the construction contracts. 

In addition to these, the act has provided for the temporary relief of the financially distressed individuals, other businesses, and even firms, by modifying the legislations of various Acts in Singapore. 

Mode of Availing such Relief

Any party that seeks relief is asked to send a notification to the counterparty called “Notification of Relief” stating that they are seeking relief due to the fact that they have been unable to perform the contracts on account of the pandemic- COVID-19. When the notification is received by the counterparty, they cannot take any sort of prohibited action against the party that seeks relief. If there is an existing proceeding, it must be put on stay. If any such notification is disputed by the party against whom relief is to be sought, then such a dispute shall be reviewed by an assessor. An assessor shall be appointed by the Minister of Law who will decide the matter and grant the requisite reliefs. 

There shall be no lawyers who shall represent the parties, instead, it shall be the parties themselves who will represent themselves before the assessor. There shall also lie, no appeal from the assessor’s decision.

Duration of the Relief Provided  under the Act

The duration has been for a period of 6 months, however, though, the Ministry of Law may decide to provide measures which may be provided for a period of less than 6 months. 

Bankruptcy and Insolvency Proceedings

There are two parts of these proceedings:

Individuals

The monetary threshold shall be increased from Singapore $15,000 to $60,000. The time period to satisfy the demand has also increased from 15 days to 6 months. 

Businesses

The monetary threshold has increased from Singapore $10,000 to $1,00,000 from the time period to satisfy the demand has increased from 21 days to 6 months. The directors will also be temporarily relieved from performing any obligations to prevent their companies from trading while they’re insolvent if the debts have been incurred through the ordinary courses. However, they shall be liable criminally if the debts have been incurred through fraudulent means. 

Meetings

The social distancing measures are likely to override any sort of legal requirements which includes meetings. If any of such obligations are complied with since the 27th of March, they shall be deemed to have been compiled for the purpose of meetings in legal obligations. It is also possible that the alternative form of proceedings take place even after the pandemic has been long gone. 

Court Proceedings

The social distancing measures apply to the court as well. These proceedings may be conducted remotely which includes the production of witnesses before the court or even the accused. However, not all meetings can be conducted remotely. Any proceeding that has to be conducted shall be through the electronics means which has already taken effect from the 7th of April, 2020. 

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Benefits of this Act

The main objective as stated above, and also the biggest benefit of this act was to provide temporary relief to the parties who are unable to perform the contractual obligations. This law does not underlie these obligations, only freezes the rights of enforcement of these contracts for a certain period of time. There is a force majeure clause which shall in most cases prevail over this law if the party chooses to invoke that clause. 

Interim Relief announced by the Government of India to deal with the Pandemic

As a response to halt the spread of this virus, the government in India had mandated the nationwide lockdown which first came into force on the 24th of March and is still being continued to date. Although, certain states have been allowed to have additional activities in the second phase of this lockdown. The government had through one of its initial notifications recognized the disruption of the supply chains due to the COVID-19 and also the problems and the performance of the contractual obligations. It had been provided that the pandemic COVID-19 shall be considered as a pandemic and the fact that the clause of force majeure which means “unforeseeable circumstances which prevent one from performing the obligations of a legal contract” may be invoked while following the due procedure. The government has also provided for the protection of the businesses and the firms due to the pandemic, through various other notifications via each state and separate ministries.

How India can learn from Singapore 

Most of the reliefs that were introduced by the government of India was where one of the parties is a governmental party. In such a kind of contract, the mandate is from the government to the bodies of the government and it has been expected that there shall be compliance. 

But, giving these bodies the authority to decide the matter that who is entitled to receive such a benefit or the relief shall come into the view, or whether the party is actually affected or not, can be problematic. It does amount to a unilateral amendment of the contract and the fact that it does, in no way, result in the benefit of the other party, can be termed as a decision or judgment made by a person in his own case which blatantly violates the principle of natural justice. 

In this regard, the law of Singapore actually achieves fair and just trial by appointing the accessors and that these assessors are independent of the parties causing no violation of the principles of natural justice. 

The bigger problem goes on to be the fact that the other party may need urgent interim relief such as no action for invoking the performance guarantee for the delay. 

This will mean that the affected party will now have to proceed to the courts to seek injunctive relief against the invocation. That party will have to convince the court that its performance had been really and materially affected by the pandemic COVID-19. 

This is the stage where India can look at the model of Singapore and learn. The law of Singapore stipulates that the aggrieved party must give a notice as stated above, seeking relief to the other party. If the notice has been served and communicated to the other party, the other party cannot take any steps, which have been listed above such as continuing a court proceeding or an arbitration proceeding, along with the others. 

If the other party disputes the application given by the first party, then, in such a case, the assessor, who is an independent body, away from the interest of both the parties, will make a fair and just decision and whatever the assessor determines shall be the last word without any scope of appeal. But so, if the notice has been served for seeking the relief, then, in that case, the interim reliefs are in place until such notice is withdrawn or until the assessor determines the given matter stating that the relief is not attracted under that law. Without the benefit of a law like this, at the stage where the interim relief is granted, the courts shall be called upon to adjudicate such matters whether the inability to perform a contractual obligation constitutes a breach or whether the COVID-19 is a defence to the inability of the performance of such a contractual obligation. The burden of proof, in this case, shall always lie upon the party who states that it is the one that requires the relief. It has to prove that the reason for the non-fulfilment of the contract is only by the virtue of a pandemic and nothing else. 

The beauty of the law of Singapore lies in the fact that the burden of proof has been shifted to the opposing party and not the party that seeks the relief. If the opposing party wants to dispute over the fact that the relief that was sought by the first party does not fall under the ambit of the relief required to be sought only in the case of a pandemic, then, this has to be proved by the opposing party. Until and unless it has been proved that the relief sought is wrong, the affected party seeking the relief shall get all the benefits of the temporary relief that is applicable in the contract, including the protection from coercive steps that are being taken by the opposing party. Instead of the courts doing the work, Singapore has now decided that it shall be a body of assessors that will be doing this work. 

In India, this power could be given to the regulatory tribunals to determine whether the inability to perform the contractual obligations for which the relief is being sought by a party, is due to the fact that it has occurred due to the pandemic that has taken place. 

This approach will give the protection that is necessary to those parties who require such protection and relief without having to prove its inability. 

Conclusion

Due to the global crisis that has arisen because of COVID-19, there are going to several parties that will not be able to fulfil their contractual obligations. It would be interesting to see in India, to take a cue from this model of Singapore, while dealing with such contractual obligations by providing varying protection to the affected parties. 

Reference

https://www.lexology.com/library/detail.aspx?g=01787264-9634-49b4-a748-3945d07dd2c1

https://www.nortonrosefulbright.com/en/knowledge/publications/782929df/singapore-introduces-covid-19-temporary-measures-act-2020

https://www.barandbench.com/columns/singapore-covid-19-temporary-measures-act-2020-and-whether-india-can-benefit-by-following-the-singapore-model

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